Toyota Partners With Thailand Government, Eyeing Pick-up Trucks & Eco-Cars: Report
Portfolio Pulse from Nabaparna Bhattacharya
Toyota Motor Corporation (NYSE:TM) is partnering with the Thailand government to boost the country's electric vehicle (EV) industry. The automaker sees potential in Thailand's auto manufacturing industry, particularly in pick-up trucks and eco-cars. Toyota plans to test its inaugural EV pick-up truck in Thailand, aiming to increase its EV market presence. The Thai government has introduced a three-year tax incentive for automakers investing in automation and robotics. By 2030, Thailand aims to transform one-third of its annual vehicle production into EVs.
November 09, 2023 | 1:39 pm
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Toyota's partnership with the Thailand government to boost the country's EV industry could potentially increase the company's market presence in the EV sector. The introduction of a three-year tax incentive for automakers investing in automation and robotics by the Thai government could also benefit Toyota.
Toyota's partnership with the Thailand government is a strategic move to increase its market presence in the EV sector. The company's plan to test its inaugural EV pick-up truck in Thailand could potentially increase its competitiveness in the market. Additionally, the introduction of a three-year tax incentive for automakers investing in automation and robotics by the Thai government could potentially reduce Toyota's operational costs, thereby increasing its profitability.
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